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Gigamedia Revenue Down 50 Percent
Sunday August 25,2013 : GIGAMEDIA Q2 REVENUES DIVE ALMOST 50 PERCENT
Best bet now is on an already delayed social casino project
Taiwan-based online gambling group GigaMedia's misfortunes continued to mount this week with the release of the company's Q2-2013 numbers, revealing that revenues were down 13 percent to $3.65 million on the last quarter, and 49 percent year-on-year.
Gross profit declined 17 percent to $1.92 million on the quarter, and 50 percent compared with the same period last year.
Although client numbers remained stable at around 23,000, they deposited 6 percent less in average monthly user spend.
Restructuring misjudgements have taken their toll on the company, which at one time held a significant stake - since sold - in Everest Gaming (see previous InfoPowa reports). In acknowledging past errors, Management has warned that it may take some time to recover.
The company's best opportunities appear to lie in the social casino sector, where it has been developing and testing browser-based online casino games via hundreds of Taiwan-based internet cafes since June. However, all is not necessarily going well on the project, which was originally planned to fully launch in July, but has since been delayed until end-2013.
Gambling News :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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